GreenLine Mobility Solutions, a logistics company backed by India’s Essar Group, has secured an additional $1 billion in funding as it scales up its fleet of liquefied natural gas and electric trucks.
The Mumbai-based firm has raised $275 million in equity from promoters and external investors, including Nikhil Kamath, co-founder of online stock-trading platform Zerodha. The valuation of the investment round was not disclosed.
Ambitious Fleet Expansion Targets 10,000 Trucks
GreenLine currently operates 650 LNG-powered trucks and plans to expand that number to 10,000 heavy-duty vehicles over the next few years.
The new funding, including equity and planned infrastructure investments, highlights the company’s ambition to provide cost-competitive, low-emission logistics solutions to major industries.
“This investment in decarbonizing road logistics aligns with Prime Minister Narendra Modi’s e-drive initiative,” said Anshuman Ruia, director at Essar. “India’s vision for a low-carbon future is taking shape, and GreenLine is proud to be at the forefront.”
Partnership with Iveco and New Infrastructure Plans
The company’s LNG trucks are being procured through a technical and equity partnership with Italian manufacturer Iveco, via an associate company.
The same associate is set to invest in 100 LNG refueling stations across India, featuring electric-vehicle charging points and battery-swapping facilities.
Freight transport accounts for nearly 15 percent of India’s total carbon emissions, with more than 4 million diesel-powered trucks still on the roads.
GreenLine’s CEO Anand Mimani said the company is “building the backbone of sustainable logistics” by enabling an industry-wide transition away from fossil fuels.
“With our nationwide network, we are enabling the logistics ecosystem to move seamlessly to cleaner, more efficient alternatives,” Mimani said.
Investor Confidence in Green Mobility
Kamath, who invested $20 million in the latest round, said the time for green mobility in India is now. “Green mobility isn’t just a trend — it’s inevitable,” he said. “More companies need to take the leap. This shift is happening—with or without you.”
GreenLine says its LNG trucks are already cost-competitive with diesel haulers, allowing clients to reduce their carbon footprint without paying a premium. The company also touts the potential for clients to earn carbon credits.
Carbon Savings and National Goals
So far, GreenLine’s fleet has logged 38 million kilometers of operations and prevented over 10,000 tonnes of carbon dioxide emissions. With expansion, the firm says it can help India cut 1 million tonnes of emissions annually, supporting the government’s goal to reduce greenhouse gas output by 30 percent by 2030.
The move comes amid a broader regional trend. In China, LNG trucks accounted for more than 9 percent of the heavy-duty fleet in 2024, following a peak in diesel truck sales in 2021.
India lags in EV and LNG trucking infrastructure, but it is now pushing policies that favor greener transport solutions.
GreenLine currently serves several industries, including fast-moving consumer goods, e-commerce, mining, cement, oil and gas and chemicals.
